The types of business organizations and structures of different types of companies. As you learned, small business owners have a lot of personal liability for their business actions. If you sue a small business, more than likely you are directly suing the owner and have access to their personal assets (house, car, etc.) as well as their personal money.

Describe in an extensive way and be specific as possible. In your opinion on whether you think personal liability is fair when we're talking about small business owners. Why or why not? Consider the needs and desires of a small business owner: they generally operate on a shoestring budget with little assistance or profit. Also consider who they transact with, though - consumers, banks, etc..